Method and system for bypassing merchant systems to increase data security in conveyance of credentials

ABSTRACT

A method for transaction initiation with a bypass of merchant systems includes: storing a consumer public key and a blockchain comprised of a plurality of blocks, each block being comprised of a block header and data values, each block header including a block timestamp, and each data value including a unique transaction identifier; receiving a data message originating from a merchant system including a specific transaction identifier, a transaction timestamp, and transaction data; identifying a specific data value in a specific block that includes the specific transaction identifier; verifying that the block timestamp in the specific block is within a predetermined period of time of the transaction timestamp; identifying payment credentials associated with a user transaction account corresponding to the specific data value; and initiating a payment transaction between the merchant system and the transaction account using the identified payment credentials and transaction data.

FIELD

The present disclosure relates to the initiation of transactions thatbypass merchant systems, specifically the use of a blockchain to bypassthe conveyance of payment credentials to a merchant system.

BACKGROUND

Consumers that engage in electronic payment transactions are oftenwilling to sacrifice security for the sake of convenience. For instance,many consumers that use merchant websites or application programs forconducting electronic payment transactions with a merchant are willingto provide their payment credentials to the merchant for storage therebyfor use in future transactions. This action can provide the consumerwith an opportunity later on to select use of their saved paymentcredentials, negating the need to re-enter all of the information,saving the consumer time and effort. In addition, this can serve as aprotection against man-in-the-middle attacks where the data may beintercepted as it is submitted to the merchant.

However, such methods are only as effective as the storage mechanismused by the merchant to store the payment credentials they have beenprovided. With the increase in the number of electronic paymenttransactions that are processed there has been a significant rise in thenumber of cyber-attacks on merchant systems to access stored paymentcredentials. In some cases, millions of payment credentials have beenstolen at once on more than one occasion. As a result, some consumershave become wary in having merchants store their payment credentials.However, as noted above, the entry of payment credentials for use everytransaction may leave the credentials open to being compromised duringtheir transmission. Unfortunately, there is no system available that canenable a consumer to bypass a merchant system when providing theirpayment credentials for funding an electronic payment transaction.

Thus, there is a need for a technological solution whereby an electronicpayment transaction may be initiated that is funded using paymentcredentials that are not provided to the merchant involved in thepayment transaction.

SUMMARY

The present disclosure provides a description of systems and methods fortransaction initiation with a bypass of merchant systems. A blockchainis used to store data associated with a transaction that is approved forinitiation by a consumer. The merchant submits data that identifies theapproval that is stored in the blockchain in lieu of a traditionalpayment transaction. A processing server receives the data, verifiesthat it corresponds to the approved transaction based on what is storedin the blockchain, and initiates the corresponding payment transactionusing payment credentials previously provided by the consumer. Thus, apayment transaction is initiated without the merchant ever receiving thepayment credentials, preventing any dangers of theft orman-in-the-middle attacks involving the merchant and with only minormodifications to merchant systems, with significant technical advantageover prior systems.

A method for transaction initiation with a bypass of merchant systemsincludes: storing, in a memory of a processing server, at least aconsumer public key of a cryptographic key pair and a blockchain,wherein the blockchain is comprised of a plurality of blocks, each blockbeing comprised of at least a block header and one or more data values,where each block header includes at least a block timestamp and each ofthe one or more data values includes a unique transaction identifier;receiving, by a receiving device of the processing server, a datamessage originating from a merchant system, wherein the data messageincludes at least a specific transaction identifier, a transactiontimestamp, and transaction data; executing, by a querying module of theprocessing server, a query on the memory to identify a specific datavalue included in a specific block of the plurality of blocks comprisingthe blockchain where the included unique transaction identifiercorresponds to the specific transaction identifier; verifying, by averification module of the processing server, that the block timestampincluded in the block header included in the specific block is within apredetermined period of time of the transaction timestamp; executing, bythe querying module of the processing server, a query to identifypayment credentials associated with a user transaction accountcorresponding to the specific data value, wherein the paymentcredentials are identified following successful verification; andinitiating, by a transaction processing module of the processing server,a payment transaction between the merchant system and the transactionaccount using at least the identified payment credentials andtransaction data.

A system for transaction initiation with a bypass of merchant systemsincludes: a transaction processing module of a processing server; amemory of the processing server configured to store at least a consumerpublic key of a cryptographic key pair and a blockchain, wherein theblockchain is comprised of a plurality of blocks, each block beingcomprised of at least a block header and one or more data values, whereeach block header includes at least a block timestamp and each of theone or more data values includes a unique transaction identifier; areceiving device of the processing server configured to receive a datamessage originating from a merchant system, wherein the data messageincludes at least a specific transaction identifier, a transactiontimestamp, and transaction data; a querying module of the processingserver configured to execute a query on the memory to identify aspecific data value included in a specific block of the plurality ofblocks comprising the blockchain where the included unique transactionidentifier corresponds to the specific transaction identifier; and averification module of the processing server configured to verify thatthe block timestamp included in the block header included in thespecific block is within a predetermined period of time of thetransaction timestamp, wherein the querying module of the processingserver is further configured to execute a query to identify paymentcredentials associated with a user transaction account corresponding tothe specific data value, wherein the payment credentials are identifiedfollowing successful verification, and the transaction processing moduleof the processing server is configured to initiate a payment transactionbetween the merchant system and the transaction account using at leastthe identified payment credentials and transaction data.

BRIEF DESCRIPTION OF THE DRAWING FIGURES

The scope of the present disclosure is best understood from thefollowing detailed description of exemplary embodiments when read inconjunction with the accompanying drawings. Included in the drawings arethe following figures:

FIG. 1 is a block diagram illustrating a high level system architecturefor bypassing of merchant credentials in electronic payment transactionsin accordance with exemplary embodiments.

FIG. 2 is a block diagram illustrating the processing server of thesystem of FIG. 1 for the initiation of payment transactions whilebypassing merchant systems in accordance with exemplary embodiments.

FIG. 3 is a flow diagram illustrating a process for initiating a paymenttransaction with a merchant bypass in the system of FIG. 1 in accordancewith exemplary embodiments.

FIG. 4 is a flow chart illustrating an exemplary method for transactioninitiation with a bypass of merchant systems in accordance withexemplary embodiments.

FIG. 5 is a block diagram illustrating a computer system architecture inaccordance with exemplary embodiments.

Further areas of applicability of the present disclosure will becomeapparent from the detailed description provided hereinafter. It shouldbe understood that the detailed description of exemplary embodiments areintended for illustration purposes only and are, therefore, not intendedto necessarily limit the scope of the disclosure.

DETAILED DESCRIPTION

Glossary of Terms

Payment Network—A system or network used for the transfer of money viathe use of cash-substitutes for thousands, millions, and even billionsof transactions during a given period. Payment networks may use avariety of different protocols and procedures in order to process thetransfer of money for various types of transactions. Transactions thatmay be performed via a payment network may include product or servicepurchases, credit purchases, debit transactions, fund transfers, accountwithdrawals, etc. Payment networks may be configured to performtransactions via cash-substitutes, which may include payment cards,letters of credit, checks, transaction accounts, etc. Examples ofnetworks or systems configured to perform as payment networks includethose operated by MasterCard®, VISA®, Discover®, American Express®,PayPal®, etc. Use of the term “payment network” herein may refer to boththe payment network as an entity, and the physical payment network, suchas the equipment, hardware, and software comprising the payment network.

Transaction Account—A financial account that may be used to fund atransaction, such as a checking account, savings account, creditaccount, virtual payment account, etc. A transaction account may beassociated with a consumer, which may be any suitable type of entityassociated with a payment account, which may include a person, family,company, corporation, governmental entity, etc. In some instances, atransaction account may be virtual, such as those accounts operated byPayPal®, etc.

Merchant—An entity that provides products (e.g., goods and/or services)for purchase by another entity, such as a consumer or another merchant.A merchant may be a consumer, a retailer, a wholesaler, a manufacturer,or any other type of entity that may provide products for purchase aswill be apparent to persons having skill in the relevant art. In someinstances, a merchant may have special knowledge in the goods and/orservices provided for purchase. In other instances, a merchant may nothave or require any special knowledge in offered products. In someembodiments, an entity involved in a single transaction may beconsidered a merchant. In some instances, as used herein, the term“merchant” may refer to an apparatus or device of a merchant entity.

Payment Transaction—A transaction between two entities in which money orother financial benefit is exchanged from one entity to the other. Thepayment transaction may be a transfer of funds, for the purchase ofgoods or services, for the repayment of debt, or for any other exchangeof financial benefit as will be apparent to persons having skill in therelevant art. In some instances, payment transaction may refer totransactions funded via a payment card and/or payment account, such ascredit card transactions. Such payment transactions may be processed viaan issuer, payment network, and acquirer. The process for processingsuch a payment transaction may include at least one of authorization,batching, clearing, settlement, and funding. Authorization may includethe furnishing of payment details by the consumer to a merchant, thesubmitting of transaction details (e.g., including the payment details)from the merchant to their acquirer, and the verification of paymentdetails with the issuer of the consumer's payment account used to fundthe transaction. Batching may refer to the storing of an authorizedtransaction in a batch with other authorized transactions fordistribution to an acquirer. Clearing may include the sending of batchedtransactions from the acquirer to a payment network for processing.Settlement may include the debiting of the issuer by the payment networkfor transactions involving beneficiaries of the issuer. In someinstances, the issuer may pay the acquirer via the payment network. Inother instances, the issuer may pay the acquirer directly. Funding mayinclude payment to the merchant from the acquirer for the paymenttransactions that have been cleared and settled. It will be apparent topersons having skill in the relevant art that the order and/orcategorization of the steps discussed above performed as part of paymenttransaction processing.

Payment Rails—Infrastructure associated with a payment network used inthe processing of payment transactions and the communication oftransaction messages and other similar data between the payment networkand other entities interconnected with the payment network that handlesthousands, millions, and even billions of transactions during a givenperiod. The payment rails may be comprised of the hardware used toestablish the payment network and the interconnections between thepayment network and other associated entities, such as financialinstitutions, gateway processors, etc. In some instances, payment railsmay also be affected by software, such as via special programming of thecommunication hardware and devices that comprise the payment rails. Forexample, the payment rails may include specifically configured computingdevices that are specially configured for the routing of transactionmessages, which may be specially formatted data messages that areelectronically transmitted via the payment rails, as discussed in moredetail below.

Blockchain—A public ledger of all transactions of a blockchain-basedcurrency. One or more computing devices may comprise a blockchainnetwork, which may be configured to process and record transactions aspart of a block in the blockchain. Once a block is completed, the blockis added to the blockchain and the transaction record thereby updated.In many instances, the blockchain may be a ledger of transactions inchronological order, or may be presented in any other order that may besuitable for use by the blockchain network. In some configurations,transactions recorded in the blockchain may include a destinationaddress and a currency amount, such that the blockchain records how muchcurrency is attributable to a specific address. In some instances, thetransactions are financial and others not financial, or might includeadditional or different information, such as a source address,timestamp, etc. In some embodiments, a blockchain may also oralternatively include nearly any type of data as a form of transactionthat is or needs to be placed in a distributed database that maintains acontinuously growing list of data records hardened against tampering andrevision, even by its operators, and may be confirmed and validated bythe blockchain network through proof of work and/or any other suitableverification techniques associated therewith. In some cases, dataregarding a given transaction may further include additional data thatis not directly part of the transaction appended to transaction data. Insome instances, the inclusion of such data in a blockchain mayconstitute a transaction. In such instances, a blockchain may not bedirectly associated with a specific digital, virtual, fiat, or othertype of currency.

System for the Bypassing of Merchant Systems

FIG. 1 illustrates a system 100 for the initiation of paymenttransactions that includes a bypassing of merchant systems with respectto the providing of payment credentials for use in funding the paymenttransactions.

The system 100 may include a processing server 102. The processingserver 102, discussed in more detail below, may be configured toinitiate electronic payment transactions that bypass merchant systems,enabling a payment transaction to be conducted without the providing ofpayment credentials to a merchant. In the system 100, a consumer 104 maywish to engage in an electronic payment transaction with a merchantsystem 106. Traditionally, the consumer 104 may utilize a computingdevice 110, such as a desktop computer, notebook computer, laptopcomputer, tablet computer, cellular phone, smart phone, smart watch,smart television, wearable computing device, implantable computingdevice, etc., to initiate an electronic payment transaction with themerchant system 106, such as via a web page or application program. Inthese traditional transactions, the consumer 104 may input their paymentcredentials into the computing device 110 using a suitable input method,which may be communicated to the merchant system 106 using a suitablecommunication network and method. The merchant system 106 would theninitiate the processing of the payment transaction, such as bysubmitting a transaction message to a payment network 114 via paymentrails associated therewith, which would process the payment transactionusing traditional methods.

However, as discussed above, such a submission of payment credentialsmay leave the credentials subject to theft or intercept duringtransmission to the merchant system 106, input into the computing device110, or storage in the merchant system 106. To increase the security ofthe payment credentials throughout the transaction process, theprocessing server 102 is configured to bypass the merchant system 106with respect to the credentials when a new payment transaction isinitiated. In the system 100, when the consumer 104 is interested inconducting an electronic payment transaction, the consumer 104 maysubmit a transaction request via the computing device 110. Thetransaction request may be an indication that the consumer 104 wishes toengage in an electronic payment transaction with the merchant system106.

In one embodiment, the consumer 104 may submit the transaction requestto the processing server 102 via the computing device 110, such as usinga web page, application program, application programming interface, orother suitable communication method. The transaction request may includea time at which the transaction is to take place, or the processingserver 102 may identify a timestamp for when the transaction request isreceived. In some embodiments, the transaction request may include dataassociated with the requested payment transaction, such as an expectedtransaction amount, merchant identifier associated with the merchantsystem 106, geographic location, etc. A unique identifier, also referredto herein as a transaction identifier, may be identified for theproposed payment transaction. The transaction identifier may be a valuethat is unique to the specific payment transaction, and may beidentified by the processing server 102 and provided to the consumer 104(e.g., via the computing device 110) in response to the transactionrequest or identified by the consumer 104 and/or computing device 110and included in the transaction request.

In some embodiments, the transaction request may include paymentcredentials associated with a transaction account that are to be used tofund the payment transaction. In other embodiments, payment credentialsmay have been previously provided to the processing server 102 forstorage thereby, where the payment credentials may be indicated in thetransaction request. For instance, the processing server 102 may storethe payment credentials in an account profile associated with theconsumer 104, discussed in more detail below, which may be identifiedvia an account identifier, which may be included in the transactionrequest.

The system 100 may include a blockchain network 108. When a transactionrequest is received, a new data value may be added to the blockchainassociated with the blockchain network 108 that corresponds to thetransaction request. In embodiments where the transaction request issubmitted to the processing server 102, the processing server 102 maysubmit the data for inclusion in the data value to the blockchainnetwork 108 via a node 112 thereof, where the blockchain network 108 maybe comprised of a plurality of nodes 112. In other embodiments, theconsumer 104 may submit the transaction request (e.g., via the computingdevice 110) directly to a node 112 in the blockchain network 108. Insuch embodiments, the consumer 104 may include an account identifier inthe transaction request for forwarding to the processing server 102 bythe node 112, or may electronically transmit a separate transactionrequest to the processing server 102, which may include the accountidentifier and the transaction identifier.

The node 112 may receive the transaction request and may generate a newdata value to be included in a new block that is verified and added tothe blockchain. The blockchain may be comprised of a plurality ofblocks. Each block may be comprised of a block header and one or moredata values. The block header may include at least a timestamp, a blockreference, and a data reference. The timestamp may be a time when theblock header was generated. The block reference may be a reference tothe prior block added to the blockchain before the block that includesthe block header, such as may be identified via the timestamp. The datareference may be a reference to the data values included in therespective block. In some embodiments, the block reference and datareference may be hash values generated via the application of hashingalgorithms to the respective data. The use of the reference values mayensure immutability of the blockchain, as modification to any data inthe blockchain would necessitate modification of the transactionreference and block reference in a block where data modified and in theblock reference included in every subsequent block in the blockchain. Inaddition, each of the nodes 112 in the blockchain network 108 isconfigured to store a copy of the blockchain, and, as a result, suchmodifications would have to be performed at every node 112 in theblockchain network 108 prior to the addition of a new block to theblockchain, making modification of the blockchain computationallyimpossible for all practical purposes.

Once the transaction request is submitted to the node 112, the node 112may generate a new data value for the proposed payment transaction thatincludes at least the transaction identifier associated therewith. Insome embodiments, the data value may also include the transaction datasubmitted by the consumer 104 and, in some cases, the account identifierthat indicates the transaction account to be used to fund the paymenttransaction. In some cases, the timestamp may also be included. In othercases, the timestamp included in the block header may be used in placeof the timestamp identified for the specific proposed paymenttransaction. In instances where the consumer 104 supplies the timestampas an expected future time when the transaction is to take place, thetimestamp may be included in the data value.

Once the data value is generated, the node 112 may include the datavalue in a new block that is generated, which may be verified by one ormore other nodes 112 in the blockchain network 108 and then added to theblockchain using traditional methods and systems. The data value maythen be made available for viewing in the blockchain by any authorizedentity. In some instances, the blockchain may be a public blockchain,where the consumer 104 or any other entity may view the data value(e.g., to ensure that it was submitted and included successfully). Inother instances, the blockchain may be a private or hybrid blockchain,where access to the data values may only be performed by authorizedentities, such as the processing server 102.

Following the inclusion of the data value in the blockchain, theconsumer 104 may contact the merchant system 106 to begin the processfor initiating the electronic payment transaction. The consumer 104 mayuse traditional methods and systems for interacting with the merchantsystem 106, such as by accessing a web page, application program,application programming interface, or other suitable interface, such asmay be performed via the computing device 110. In place of providingpayment credentials to the merchant system 106 for a paymenttransaction, the consumer 104 may instead supply the merchant system 106with the transaction identifier. The merchant system 106 may receive thetransaction identifier from the consumer 104, and may submit a datamessage to the processing server 102 in place of the submission of atraditional transaction message. In some embodiments, the data messagemay be electronically transmitted to the processing server 102 using acommunication method other than payment rails associated with a paymentnetwork 114, which is used in traditional electronic paymenttransactions. In other embodiments, the data message may be submittedvia the payment rails, either directly to the payment network 114 (e.g.,for forwarding to the processing server 102) or to the processing server102 using the network infrastructure as made available by the paymentnetwork 114. In such embodiments, the data message may be a traditionaltransaction message (e.g., an authorization request as indicated by ISO8583 or ISO 20022), where the transaction identifier may be included inplace of a primary account number. In some cases, the processing server102 may be a part of the payment network 114.

The data message submitted by the merchant system 106 to the processingserver 102 may include at least the transaction identifier, atransaction timestamp, and other transaction data. In some cases, theprocessing server 102 may identify the timestamp when the data messageis received thereby. The other transaction data may include any dataused by the processing server 102 in the initiation and processing ofthe payment transaction, such as a transaction amount and accountdetails associated with a transaction account of the merchant system 106for receipt of the transaction amount. The processing server 102 mayidentify the data value in the blockchain that corresponds to the datamessage submitted by the merchant system 106 using the transactionidentifier. The processing server 102 may then verify that thetransaction is to take place. The verification may be based on at leasta comparison of the data included in the data value and the dataincluded in the received data message. For instance, the processingserver 102 may verify that the timestamp included in the data messagematches, or is within a predetermined period of time (e.g., ten minutes,one hour, etc.) of the timestamp stored in the data value included inthe blockchain. Additional verification may be performed based on theamount of data included in the data value, such as comparing atransaction amount stored in the blockchain with the transaction amountsubmitted in the data message, comparison of a merchant identifierstored in the blockchain to a merchant identifier submitted in the datamessage and associated with the merchant system 106. In other words, theprocessing server 102 may confirm that the data message submitted by themerchant system 106 matches the payment transaction that was proposed bythe consumer 104 in their transaction request, to prevent fraud.

If the verification is unsuccessful, the processing server 102 mayinform the merchant system 106, which may make another attempt atverification and/or indicate to the consumer 104 (e.g., via thecomputing device 110) that the verification was unsuccessful. Forinstance, the consumer 104 may have mistyped the transaction identifier,and may remedy the error for a new submission to be made by the merchantsystem 106. If the verification is successful, the processing server 102may initiate an electronic payment transaction for payment of thetransaction amount from the transaction account indicated by theconsumer 104 to the merchant system 106. As part of the initiation, theprocessing server 102 may identify the payment credentials for thetransaction account indicated by the consumer 104, such as by using theaccount identifier stored in the data value included in the blockchainor identifying the account identifier and/or payment credentials basedon the transaction identifier, depending on implementation and the datasubmissions by the consumer 104. The payment credentials may be includedin a transaction message that is submitted by the processing server 102to the payment network 114 via the payment rails associated therewithfor the electronic payment transaction. The transaction message may alsoinclude the transaction amount included in the data message and anyother transaction data that may be included therein as may be necessaryfor the processing of the payment transaction.

The payment network 114 may then process the payment transaction usingtraditional methods and systems. Once the payment transaction isprocessed, the payment network 114 may provide an authorization responseto the processing server 102 indicating if the payment transaction wasapproved or denied. The processing server 102 may then inform themerchant system 106 accordingly, which may finalize the paymenttransaction based thereon. In some embodiments, the processing server102 may notify the blockchain network 108 of the transaction processing,which may then add a new value into a new block in the blockchain thatindicates that the payment transaction was processed, such as indicatedby the transaction identifier. For instance, the transaction identifiermay be included in a data value with a new timestamp, transactionamount, or other data that may prevent verification for any futuretransaction.

In some embodiments, digital signatures may be used to provide furthersecurity. In such embodiments, the computing device 110 may generate acryptographic key pair that is comprised of a private key and publickey, referred to herein as a consumer private key and consumer publickey, respectively. The consumer 104 may, using the computing device 110,generate a digital signature for submissions using the consumer privatekey. For instance, the consumer 104 may digitally sign the transactionrequest, as well as the transmission of the transaction identifier tothe merchant system 106. The processing server 102 may retain a copy ofthe consumer public key, which may be used thereby to verify the digitalsignature on submissions received from the computing device 110 and/ormerchant system 106. For example, the digital signature may be providedto the merchant system 106 by the computing device 110 along with thetransaction identifier, which may be included in the data messagesubmitted to the processing server 102 by the merchant system 106. Theprocessing server 102 may verify the digital signature (e.g., using thepublic key) along with the other data, such as to ensure that thetransaction was proposed by the same computing device 110 that submittedto the transaction request, to further prevent fraud.

The methods and systems discussed herein enable the processing server102 to facilitate the initiation of an electronic payment transactionthat bypasses merchant systems 106 with respect to payment credentials.The consumer 104 and merchant system 106 can communicate usingtraditional methods, but where a unique transaction identifier is usedin place of any traditional account information. The merchant system 106submits the transaction identifier rather than payment credentials,which is used by the processing server 102 to identify the paymentcredentials for use in the payment transaction. At the same time, ablockchain is used to store data used to verify that the paymenttransaction is to be conducted, to prevent fraud on the part of merchantsystems 106 or nefarious actors purporting to be merchants. The use of ablockchain ensures that the data cannot be tampered with or modified inany way, such that only transactions explicitly authorized by theconsumer 104 may be initiated. Thus, consumers 104 may freely engage inelectronic commerce with merchant systems 106 without providing paymentcredentials thereto, resulting in significantly greater accountsecurity.

Processing Server

FIG. 2 illustrates an embodiment of a processing server 102 in thesystem 100. It will be apparent to persons having skill in the relevantart that the embodiment of the processing server 102 illustrated in FIG.2 is provided as illustration only and may not be exhaustive to allpossible configurations of the processing server 102 suitable forperforming the functions as discussed herein. For example, the computersystem 500 illustrated in FIG. 5 and discussed in more detail below maybe a suitable configuration of the processing server 102.

The processing server 102 may include a receiving device 202. Thereceiving device 202 may be configured to receive data over one or morenetworks via one or more network protocols. In some instances, thereceiving device 202 may be configured to receive data from merchantsystems 106, computing devices 110, nodes 112, payment networks 114, andother systems and entities via one or more communication methods, suchas radio frequency, local area networks, wireless area networks,cellular communication networks, Bluetooth, the Internet, etc. In someembodiments, the receiving device 202 may be comprised of multipledevices, such as different receiving devices for receiving data overdifferent networks, such as a first receiving device for receiving dataover a local area network and a second receiving device for receivingdata via the Internet. The receiving device 202 may receiveelectronically transmitted data signals, where data may be superimposedor otherwise encoded on the data signal and decoded, parsed, read, orotherwise obtained via receipt of the data signal by the receivingdevice 202. In some instances, the receiving device 202 may include aparsing module for parsing the received data signal to obtain the datasuperimposed thereon. For example, the receiving device 202 may includea parser program configured to receive and transform the received datasignal into usable input for the functions performed by the processingdevice to carry out the methods and systems described herein.

The receiving device 202 may be configured to receive data signalselectronically transmitted by merchant systems 106, which may besuperimposed or otherwise encoded with data messages. Data messages mayinclude at least a transaction identifier, a timestamp, a transactionamount, and any other transaction data that may be used in theinitiation of a payment transaction. In some embodiments, data messagemay be transmitted using payment rails and may be specially formattedpursuant to one or more standards governing the exchange of transactionmessages, such as the ISO 8583 or ISO 20022 standards. The receivingdevice 202 may also be configured to receive data signals electronicallytransmitted by computing devices 110, which may be superimposed orotherwise encoded with transaction requests, which may include atransaction identifier, timestamp, account identifier, and/or other dataas discussed herein, and/or may also include payment credentialsassociated with a transaction account. The receiving device 202 may alsobe configured to receive data signals electronically transmitted bynodes 112 in the blockchain network 108, which may be superimposed orotherwise encoded with new blockchain data for use by the processingserver 102. The receiving device 202 may also be configured to receivedata signals electronically transmitted by payment networks 114 viapayment rails associated therewith, which may be superimposed orotherwise encoded with transaction messages, such as authorizationresponses for payment transactions initiated by the processing server102.

The processing server 102 may also include a communication module 204.The communication module 204 may be configured to transmit data betweenmodules, engines, databases, memories, and other components of theprocessing server 102 for use in performing the functions discussedherein. The communication module 204 may be comprised of one or morecommunication types and utilize various communication methods forcommunications within a computing device. For example, the communicationmodule 204 may be comprised of a bus, contact pin connectors, wires,etc. In some embodiments, the communication module 204 may also beconfigured to communicate between internal components of the processingserver 102 and external components of the processing server 102, such asexternally connected databases, display devices, input devices, etc. Theprocessing server 102 may also include a processing device. Theprocessing device may be configured to perform the functions of theprocessing server 102 discussed herein as will be apparent to personshaving skill in the relevant art. In some embodiments, the processingdevice may include and/or be comprised of a plurality of engines and/ormodules specially configured to perform one or more functions of theprocessing device, such as a querying module 214, data identificationmodule 216, verification module 218, transaction processing module 220,etc. As used herein, the term “module” may be software or hardwareparticularly programmed to receive an input, perform one or moreprocesses using the input, and provides an output. The input, output,and processes performed by various modules will be apparent to oneskilled in the art based upon the present disclosure.

In some embodiments, the processing server 102 may include an accountdatabase 206. The account database 206 may be configured to store aplurality of account profiles 208 using a suitable data storage formatand schema. The account database 206 may be a relational database thatutilizes structured query language for the storage, identification,modifying, updating, accessing, etc. of structured data sets storedtherein. Each account profile 208 may be a structured data setconfigured to store data related to a transaction account, including atleast an account identifier associated therewith a payment credentialsfor use in funding payment transactions using the related transactionaccount. In some cases, an account profile 208 may also includetransaction identifiers corresponding to submitted transaction requestsfor proposed electronic payment transactions that are to be funded bythe related transaction account. In cases where digital signatures areused, an account profile 208 may also include a consumer public key.

The processing server 102 may include a querying module 214. Thequerying module 214 may be configured to execute queries on databases toidentify information. The querying module 214 may receive one or moredata values or query strings, and may execute a query string basedthereon on an indicated database, such as the account database 206, toidentify information stored therein. The querying module 214 may thenoutput the identified information to an appropriate engine or module ofthe processing server 102 as necessary. The querying module 214 may, forexample, execute a query on the account database 206 to identify anaccount profile 208 that includes the transaction identifier included ina data message received from a merchant system 106 for identification ofthe payment credentials stored therein.

The processing server 102 may also include a data identification module216. The data identification module 216 may be configured to identifydata for use by the processing server 102 in performing the functionsdiscussed herein. The data identification module 216 may receiveinstructions as input, may identify data based on the instructions, andmay output the identified data to another module or engine of theprocessing server 102. For example, the data identification module 216may be configured to identify transaction identifiers for receivedtransaction requests, identify account identifiers based on transactionidentifier and account identifier pairs using received transactionidentifiers, etc.

The processing server 102 may also include a verification module 218.The verification module 218 may be configured to verify data for theprocessing server 102 for performing the functions discussed herein. Theverification module 218 may be configured to receive data to be verifiedas input, may attempt to verify the data, and may output a result of theattempted verification to another module or engine of the processingserver 102. For example, the verification module 218 may be configuredto verify data received in a data message submitted by a merchant system106, such as by comparing it to data stored in a data value included inthe blockchain (e.g., identified by the querying module 214 and/or dataidentification module 216). In embodiments where digital signatures areused, the verification module 218 may also be configured to verifydigital signatures using public keys via signature generation andverification algorithms.

The processing server 102 may also include a transaction processingmodule 220. The transaction processing module 220 may be configured toperform functions of the processing server 102 related to the initiationand processing of electronic payment transactions, as will be apparentto persons having skill in the relevant art. The transaction processingmodule 220 may be configured to, for example, generate transactionmessages that are compliant with one or more standards, such as the ISO8583 or ISO 20022 standards, that include the payment credentialsidentified in an account profile 208 and transaction data parsed from areceived data message, which may then be transmitted to a paymentnetwork 114 for processing thereby.

The processing server 102 may also include a transmitting device 222.The transmitting device 222 may be configured to transmit data over oneor more networks via one or more network protocols. In some instances,the transmitting device 222 may be configured to transmit data tomerchant systems 106, computing devices 110, nodes 112, payment networks114, and other entities via one or more communication methods, localarea networks, wireless area networks, cellular communication,Bluetooth, radio frequency, the Internet, etc. In some embodiments, thetransmitting device 222 may be comprised of multiple devices, such asdifferent transmitting devices for transmitting data over differentnetworks, such as a first transmitting device for transmitting data overa local area network and a second transmitting device for transmittingdata via the Internet. The transmitting device 222 may electronicallytransmit data signals that have data superimposed that may be parsed bya receiving computing device. In some instances, the transmitting device222 may include one or more modules for superimposing, encoding, orotherwise formatting data into data signals suitable for transmission.

The transmitting device 222 may be configured to electronically transmitdata signals to merchant systems 106 that are superimposed or otherwiseencoded with authorization responses or other data indicating successfulor unsuccessful processing of a payment transaction, which may includeat least the transaction identifier corresponding to the paymenttransaction. The transmitting device 222 may also be configured toelectronically transmit data signals to computing devices 110, which maybe superimposed or otherwise encoded with confirmation notifications,such as confirming receipt and posting of proposed transaction data,which may include, for example, a transaction identifier identified fora received transaction request. The transmitting device 222 may also beconfigured to electronically transmit data signals to nodes 112 in theblockchain network 108, which may be superimposed or otherwise encodedwith a data value or data for inclusion therein for use by the node 112in adding a new data value to the blockchain. The transmitting device222 may also be configured to electronically transmit data signals topayment networks 114 via payment rails associated therewith that aresuperimposed or otherwise encoded with transaction messages for apayment transaction, which may include payment credentials, atransaction amount, and other transaction data as discussed herein.

The processing server 102 may also include a memory 224. The memory 224may be configured to store data for use by the processing server 102 inperforming the functions discussed herein, such as public and privatekeys, symmetric keys, etc. The memory 224 may be configured to storedata using suitable data formatting methods and schema and may be anysuitable type of memory, such as read-only memory, random access memory,etc. The memory 224 may include, for example, encryption keys andalgorithms, communication protocols and standards, data formattingstandards and protocols, program code for modules and applicationprograms of the processing device, and other data that may be suitablefor use by the processing server 102 in the performance of the functionsdisclosed herein as will be apparent to persons having skill in therelevant art. In some embodiments, the memory 224 may be comprised of ormay otherwise include a relational database that utilizes structuredquery language for the storage, identification, modifying, updating,accessing, etc. of structured data sets stored therein. The memory 224may be configured to store, for example, blockchain data, transactionformatting rules, digital signature verification algorithms, etc.

Process for Bypassing Merchant Systems in Transaction Initiation

FIG. 3 illustrates a process conducted in the system 100 for theinitiation of an electronic payment transaction that bypasses a merchantsystem 106 with respect to payment credentials associated with atransaction account used to fund the transaction.

In step 302, the consumer 104 may, using the computing device 110,submit a new blockchain transaction to a node 112 in the blockchainnetwork 108 that corresponds to an upcoming electronic paymenttransaction. The blockchain transaction may include at least atransaction identifier, account identifier, and a timestamp. The node112 may include the transaction as a data value in a new block that isverified and added to the blockchain. In step 304, the receiving device202 of the processing server 102 may receive, from a node 112 in theblockchain network 108, an updated blockchain where one of the blocksincluded therein that includes a data value corresponding to theblockchain transaction submitted by the computing device 110.

In step 306, the computing device 110 may generate a digital signatureusing a consumer private key stored therein. In some embodiments, thedigital signature may be generated over data to be transmitted to themerchant system 106, where such data may include at least thetransaction identifier corresponding to the proposed electronic paymenttransaction. In step 308, the digital signature and transactionidentifier may be submitted to the merchant system 106 using a suitablecommunication network and method, such as via a web page, applicationprogram, application programming interface, etc. In some instances, theconsumer 104 may be at a physical location of the merchant system 106,where the computing device 110 may electronically transmit the data tothe merchant system 106 using a communication method suitable for suchtransmission, such as near field communication, local area network,Bluetooth, radio frequency, etc. In step 310, the merchant system 106may receive the digital signature and the transaction identifier for theproposed electronic payment transaction.

In step 312, the merchant system 106 may generate a data message. Thedata message may include at least the data provided by the computingdevice 110 and may also include additional transaction data suitable foruse in processing the electronic payment transaction, such as atransaction amount, transaction time and/or date, geographic location,account information for a transaction account used to receive funds forthe payment transaction, etc. In some embodiments, the data message maybe a transaction message suitable for transmission via payment rails. Inother embodiments, the data message may not be formatted as atransaction message. In step 314, the merchant system 106 mayelectronically transmit the data message to the processing server 102,which may be transmitted via payment rails or by a separate type ofcommunication network.

In step 316, the receiving device 202 of the processing server 102 mayreceive the data message and parse the data included therein. In step318, the verification module 218 of the processing server 102 may verifythe data included in the data message by comparing it to the dataincluded in the data value corresponding to the proposed electronicpayment transaction as stored in the blockchain such as may beidentified (e.g., via execution of a query by the querying module 214 ofthe processing server 102) by the transaction identifier included in thedata message. The verification module 218 may verify, for instance, thetransaction amount, a merchant identifier, etc. The verification module218 may also verify the digital signature using a consumer public key,such as may be stored in an account profile 208 of the account database206 that is associated with the proposed electronic payment transaction,identified via an account identifier included in the data value and/ordata message or via the transaction identifier. If verification issuccessful, then, in step 320, the transaction processing module 220 ofthe processing server 102 may generate a transaction message for theelectronic payment transaction of payment of the transaction amount fromthe consumer 104, where the transaction message may include paymentcredentials identified in the account profile 208 and is electronicallytransmitted, by the transmitting device 222 of the processing server102, to the payment network 114 via payment rails associated therewithfor processing thereby.

Exemplary Method for Transaction Initiation with a Bypass of MerchantSystems

FIG. 4 illustrates a method 400 for the initiation of an electronicpayment transaction that bypasses the conveyance of payment credentialsto a merchant system.

In step 402, at least a consumer public key of a cryptographic key pairand a blockchain may be stored in a memory (e.g., the memory 224) of aprocessing server (e.g., the processing server 102), wherein theblockchain is comprised of a plurality of blocks, each block beingcomprised of at least a block header and one or more data values, whereeach block header includes at least a block timestamp and each of theone or more data values includes a unique transaction identifier. Instep 404, a data message originating from a merchant system (e.g., themerchant system 106) may be received by a receiving device (e.g., thereceiving device 202) of the processing server, wherein the data messageincludes at least a specific transaction identifier, a transactiontimestamp, and transaction data.

In step 406, a query may be executed on the memory by a querying module(e.g., the querying module 214) of the processing server to identify aspecific data value included in a specific block of the plurality ofblocks comprising the blockchain where the included unique transactionidentifier corresponds to the specific transaction identifier. In step408, a verification module (e.g., the verification module 218) of theprocessing server may verify that the block timestamp included in theblock header included in the specific block is within a predeterminedperiod of time of the transaction timestamp.

In step 410, a query may be executed by the querying module of theprocessing server to identify payment credentials associated with a usertransaction account corresponding to the specific data value, whereinthe payment credentials are identified following successfulverification. In step 412, a payment transaction may be initiated by atransaction processing module (e.g., the transaction processing module220) of the processing server between the merchant system and thetransaction account using at least the identified payment credentialsand transaction data.

In one embodiment, the transaction data may include at least atransaction amount and account information associated with a merchanttransaction account of the merchant system, and the payment transactionmay be for payment of the transaction amount from the user transactionaccount to the merchant transaction account. In some embodiments, thedata message may be received by the processing server via acommunication network that does not utilize payment rails. In oneembodiment, the payment credentials may be identified in a data valueincluded in one of the plurality of blocks comprising the blockchain.

In some embodiments, the method 400 may further include verifying, bythe verification module of the processing server, a digital signatureusing the consumer public key, wherein the payment credentials arefurther identified following successful verification of the digitalsignature. In a further embodiment, the digital signature may beincluded in the received data message. In another further embodiment,the method 400 may even further include receiving, by the receivingdevice of the processing server, the digital signature from a usercomputing device (e.g., the computing device 110) prior to verificationof the digital signature.

In one embodiment, the method 400 may also include storing, in anaccount database (e.g., the account database 206) of the processingserver, an account profile (e.g., an account profile 208), wherein theaccount profile is a structured data set related to the user transactionaccount and includes at least the payment credentials and anidentification value, wherein identifying the payment credentialsincludes executing the query on the account database to identify theaccount profile and the payment credentials included therein. In afurther embodiment, the specific data value may further include theidentification value. In another further embodiment, the identificationvalue may be a blockchain identifier associated with the blockchain.

Computer System Architecture

FIG. 5 illustrates a computer system 500 in which embodiments of thepresent disclosure, or portions thereof, may be implemented ascomputer-readable code. For example, the processing server 102 of FIG. 1may be implemented in the computer system 500 using hardware, software,firmware, non-transitory computer readable media having instructionsstored thereon, or a combination thereof and may be implemented in oneor more computer systems or other processing systems. Hardware,software, or any combination thereof may embody modules and componentsused to implement the methods of FIGS. 3 and 4.

If programmable logic is used, such logic may execute on a commerciallyavailable processing platform configured by executable software code tobecome a specific purpose computer or a special purpose device (e.g.,programmable logic array, application-specific integrated circuit,etc.). A person having ordinary skill in the art may appreciate thatembodiments of the disclosed subject matter can be practiced withvarious computer system configurations, including multi-coremultiprocessor systems, minicomputers, mainframe computers, computerslinked or clustered with distributed functions, as well as pervasive orminiature computers that may be embedded into virtually any device. Forinstance, at least one processor device and a memory may be used toimplement the above described embodiments.

A processor unit or device as discussed herein may be a singleprocessor, a plurality of processors, or combinations thereof. Processordevices may have one or more processor “cores.” The terms “computerprogram medium,” “non-transitory computer readable medium,” and“computer usable medium” as discussed herein are used to generally referto tangible media such as a removable storage unit 518, a removablestorage unit 522, and a hard disk installed in hard disk drive 512.

Various embodiments of the present disclosure are described in terms ofthis example computer system 500. After reading this description, itwill become apparent to a person skilled in the relevant art how toimplement the present disclosure using other computer systems and/orcomputer architectures. Although operations may be described as asequential process, some of the operations may in fact be performed inparallel, concurrently, and/or in a distributed environment, and withprogram code stored locally or remotely for access by single ormulti-processor machines. In addition, in some embodiments the order ofoperations may be rearranged without departing from the spirit of thedisclosed subject matter.

Processor device 504 may be a special purpose or a general purposeprocessor device specifically configured to perform the functionsdiscussed herein. The processor device 504 may be connected to acommunications infrastructure 506, such as a bus, message queue,network, multi-core message-passing scheme, etc. The network may be anynetwork suitable for performing the functions as disclosed herein andmay include a local area network (LAN), a wide area network (WAN), awireless network (e.g., WiFi), a mobile communication network, asatellite network, the Internet, fiber optic, coaxial cable, infrared,radio frequency (RF), or any combination thereof. Other suitable networktypes and configurations will be apparent to persons having skill in therelevant art. The computer system 500 may also include a main memory 508(e.g., random access memory, read-only memory, etc.), and may alsoinclude a secondary memory 510. The secondary memory 510 may include thehard disk drive 512 and a removable storage drive 514, such as a floppydisk drive, a magnetic tape drive, an optical disk drive, a flashmemory, etc.

The removable storage drive 514 may read from and/or write to theremovable storage unit 518 in a well-known manner. The removable storageunit 518 may include a removable storage media that may be read by andwritten to by the removable storage drive 514. For example, if theremovable storage drive 514 is a floppy disk drive or universal serialbus port, the removable storage unit 518 may be a floppy disk orportable flash drive, respectively. In one embodiment, the removablestorage unit 518 may be non-transitory computer readable recordingmedia.

In some embodiments, the secondary memory 510 may include alternativemeans for allowing computer programs or other instructions to be loadedinto the computer system 500, for example, the removable storage unit522 and an interface 520. Examples of such means may include a programcartridge and cartridge interface (e.g., as found in video gamesystems), a removable memory chip (e.g., EEPROM, PROM, etc.) andassociated socket, and other removable storage units 522 and interfaces520 as will be apparent to persons having skill in the relevant art.

Data stored in the computer system 500 (e.g., in the main memory 508and/or the secondary memory 510) may be stored on any type of suitablecomputer readable media, such as optical storage (e.g., a compact disc,digital versatile disc, Blu-ray disc, etc.) or magnetic tape storage(e.g., a hard disk drive). The data may be configured in any type ofsuitable database configuration, such as a relational database, astructured query language (SQL) database, a distributed database, anobject database, etc. Suitable configurations and storage types will beapparent to persons having skill in the relevant art.

The computer system 500 may also include a communications interface 524.The communications interface 524 may be configured to allow software anddata to be transferred between the computer system 500 and externaldevices. Exemplary communications interfaces 524 may include a modem, anetwork interface (e.g., an Ethernet card), a communications port, aPCMCIA slot and card, etc. Software and data transferred via thecommunications interface 524 may be in the form of signals, which may beelectronic, electromagnetic, optical, or other signals as will beapparent to persons having skill in the relevant art. The signals maytravel via a communications path 526, which may be configured to carrythe signals and may be implemented using wire, cable, fiber optics, aphone line, a cellular phone link, a radio frequency link, etc.

The computer system 500 may further include a display interface 502. Thedisplay interface 502 may be configured to allow data to be transferredbetween the computer system 500 and external display 530. Exemplarydisplay interfaces 502 may include high-definition multimedia interface(HDMI), digital visual interface (DVI), video graphics array (VGA), etc.The display 530 may be any suitable type of display for displaying datatransmitted via the display interface 502 of the computer system 500,including a cathode ray tube (CRT) display, liquid crystal display(LCD), light-emitting diode (LED) display, capacitive touch display,thin-film transistor (TFT) display, etc.

Computer program medium and computer usable medium may refer tomemories, such as the main memory 508 and secondary memory 510, whichmay be memory semiconductors (e.g., DRAMs, etc.). These computer programproducts may be means for providing software to the computer system 500.Computer programs (e.g., computer control logic) may be stored in themain memory 508 and/or the secondary memory 510. Computer programs mayalso be received via the communications interface 524. Such computerprograms, when executed, may enable computer system 500 to implement thepresent methods as discussed herein. In particular, the computerprograms, when executed, may enable processor device 504 to implementthe methods illustrated by FIGS. 3 and 4, as discussed herein.Accordingly, such computer programs may represent controllers of thecomputer system 500. Where the present disclosure is implemented usingsoftware, the software may be stored in a computer program product andloaded into the computer system 500 using the removable storage drive514, interface 520, and hard disk drive 512, or communications interface524.

The processor device 504 may comprise one or more modules or enginesconfigured to perform the functions of the computer system 500. Each ofthe modules or engines may be implemented using hardware and, in someinstances, may also utilize software, such as corresponding to programcode and/or programs stored in the main memory 508 or secondary memory510. In such instances, program code may be compiled by the processordevice 504 (e.g., by a compiling module or engine) prior to execution bythe hardware of the computer system 500. For example, the program codemay be source code written in a programming language that is translatedinto a lower level language, such as assembly language or machine code,for execution by the processor device 504 and/or any additional hardwarecomponents of the computer system 500. The process of compiling mayinclude the use of lexical analysis, preprocessing, parsing, semanticanalysis, syntax-directed translation, code generation, codeoptimization, and any other techniques that may be suitable fortranslation of program code into a lower level language suitable forcontrolling the computer system 500 to perform the functions disclosedherein. It will be apparent to persons having skill in the relevant artthat such processes result in the computer system 500 being a speciallyconfigured computer system 500 uniquely programmed to perform thefunctions discussed above.

Techniques consistent with the present disclosure provide, among otherfeatures, systems and methods for transaction initiation with a bypassof merchant systems. While various exemplary embodiments of thedisclosed system and method have been described above it should beunderstood that they have been presented for purposes of example only,not limitations. It is not exhaustive and does not limit the disclosureto the precise form disclosed. Modifications and variations are possiblein light of the above teachings or may be acquired from practicing ofthe disclosure, without departing from the breadth or scope.

What is claimed is:
 1. A method for transaction initiation with a bypassof merchant systems, comprising: storing, in a memory of a processingserver, at least a consumer public key of a cryptographic private-publickey pair and a blockchain, wherein the blockchain is comprised of aplurality of blocks, each block being comprised of at least a blockheader and one or more data values, where each block header includes atleast a block timestamp and each of the one or more data values includesa unique transaction identifier, and wherein the unique transactionidentifier of at least one block header in the plurality of blocks is asecond unique transaction identifier for a future payment transaction;receiving, by a receiving device of the processing server, a firsttransaction request from a mobile computing device, the firsttransaction request including transaction data and payment credentialsassociated with the future payment transaction; storing, in theblockchain of the memory, the transaction data and the paymentcredentials associated with the future payment transaction; receiving,by the receiving device of the processing server, a data messageoriginating from a merchant system, wherein the data message includes atleast a digital signature of a user computing device, a specifictransaction identifier of a current transaction, a transactiontimestamp, and transaction data associated with the current paymenttransaction; executing, by a querying module of the processing server, aquery on the memory, the query identifying a specific data valueincluded in a specific block of the plurality of blocks comprising theblockchain where the second unique transaction identifier of the futurepayment transaction corresponds to the specific transaction identifierof the current payment transaction; verifying, by a verification moduleof the processing server, that: the user computing device whichgenerated the first transaction request associated with the futurepayment transaction also generated a second transaction requestassociated with the current payment transaction, wherein the digitalsignature of the user computing device is verified using the storedconsumer public key of the cryptographic private-public key pair; andthe block timestamp included in the block header of the specific blockof the future transaction is within a predetermined period of time ofthe transaction timestamp of the current transaction; executing, by thequerying module of the processing server if the digital signature of theuser computing device is successfully verified, a query to identifypayment credentials associated with a user transaction accountcorresponding to the specific data value of the blockchain, wherein thepayment credentials are identified following successful verification;and initiating, by a transaction processing module of the processingserver, the future payment transaction between the merchant system andthe user transaction account by submitting a transaction message, whichincludes at least the identified payment credentials stored in theblockchain and the transaction data associated with the future paymenttransaction, to a payment network over payment rails.
 2. The method ofclaim 1, wherein the transaction data includes at least a transactionamount and account information associated with a merchant transactionaccount of the merchant system, and the payment transaction is forpayment of the transaction amount from the user transaction account tothe merchant transaction account.
 3. The method of claim 1, wherein thedata message is received by the processing server via a communicationnetwork that does not utilize payment rails.
 4. The method of claim 1,wherein the payment credentials are further identified followingsuccessful verification of the digital signature.
 5. The method of claim1, wherein the payment credentials are identified in a data valueincluded in one of the plurality of blocks comprising the blockchain. 6.The method of claim 1, further comprising: storing, in an accountdatabase of the processing server, an account profile, wherein theaccount profile is a structured data set related to the user transactionaccount and includes at least the payment credentials and anidentification value, wherein identifying the payment credentialsincludes executing a query on the account database to identify theaccount profile and the payment credentials included therein.
 7. Themethod of claim 6, wherein the specific data value further includes theidentification value.
 8. The method of claim 6, wherein theidentification value is a blockchain identifier associated with theblockchain.
 9. A system for transaction initiation with a bypass ofmerchant systems, comprising: a transaction processing module of aprocessing server; a memory of the processing server configured to storeat least a consumer public key of a cryptographic private-public keypair and a blockchain, wherein the blockchain is comprised of aplurality of blocks, each block being comprised of at least a blockheader and one or more data values, where each block header includes atleast a block timestamp and each of the one or more data values includesa unique transaction identifier, and wherein the unique transactionidentifier of at least one block header in the plurality of blocks is asecond unique transaction identifier for a future payment transaction; areceiving device of the processing server configured to receive a firsttransaction request from a mobile computing device, the firsttransaction request including transaction data and payment credentialsassociated with the future payment transaction, and a data messageoriginating from a merchant system, wherein the data message includes atleast a digital signature of a user computing device, a specifictransaction identifier of a current transaction, a transactiontimestamp, and transaction data associated with the current paymenttransaction; the memory of the processing server being furtherconfigured to store the transaction data and the payment credentialsassociated with the future payment transaction in the blockchain aquerying module of the processing server configured to execute a queryon the memory, the query identifying a specific data value included in aspecific block of the plurality of blocks comprising the blockchainwhere the second unique transaction identifier of the future paymenttransaction corresponds to the specific transaction identifier of thecurrent payment transaction; and a verification module of the processingserver configured to verify that: the user computing device whichgenerated the first transaction request associated with the futurepayment transaction also generated a second transaction requestassociated with the current payment transaction, wherein the digitalsignature of the user computing device is verified using the storedconsumer public key of the cryptographic private-public key pair; andthe block timestamp included in the block header of the specific blockof the future payment transaction is within a predetermined period oftime of the transaction timestamp of the current payment transaction,wherein the querying module of the processing server is furtherconfigured to execute a query if the digital signature of the usercomputing device is successfully verified, the query being executed toidentify payment credentials associated with a user transaction accountcorresponding to the specific data value, wherein the paymentcredentials are identified following successful verification, and thetransaction processing module of the processing server is configured toinitiate the current payment transaction between the merchant system andthe user transaction account by submitting a transaction message, whichincludes using at least the identified payment credentials stored in theblockchain and the transaction data associated with the future paymenttransaction, to a payment network over payment rails.
 10. The system ofclaim 9, wherein the transaction data includes at least a transactionamount and account information associated with a merchant transactionaccount of the merchant system, and the payment transaction is forpayment of the transaction amount from the user transaction account tothe merchant transaction account.
 11. The system of claim 9, wherein thedata message is received by the processing server via a communicationnetwork that does not utilize payment rails.
 12. The system of claim 9,wherein the payment credentials are further identified followingsuccessful verification of the digital signature.
 13. The system ofclaim 9, wherein the payment credentials are identified in a data valueincluded in one of the plurality of blocks comprising the blockchain.14. The system of claim 9, further comprising: an account database ofthe processing server configured to store an account profile, whereinthe account profile is a structured data set related to the usertransaction account and includes at least the payment credentials and anidentification value, wherein identifying the payment credentialsincludes executing a query on the account database to identify theaccount profile and the payment credentials included therein.
 15. Thesystem of claim 14, wherein the specific data value further includes theidentification value.
 16. The system of claim 14, wherein theidentification value is a blockchain identifier associated with theblockchain.